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Nordic Camping – extends cooperation with Migrationsverket

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Swedish camping operator Nordic Camping announced this morning that it has further extended its cooperation with Swedish migration agency “Migrationsverket” until spring 2016. The extension was made for 7 sites in written form and a further 2 sites are included by verbal confirmation. This increases the total number of camping sites engaged in the cooperation with Migrationsverket from 8 to 9 (out of a total of 14 camping sites).

Nordic Camping says that the total order value for the extension will be around SEK 15m and can vary depending on the occupancy rate. In connection with its Q3 2015 report, Nordic Camping had increased its guidance for Q4 sales related to the Migrationsverket cooperation to SEK 10m, compared to the previous guidance of SEK 7m and last year’s SEK 6m. Management also said that it expected the Migrationsverket business to be at least at the same high level in Q1 2016. The new guidance of SEK 15m from today implies a year-over-year growth of 88% for the revenues from the Migrationsverket-cooperation. For total revenue in Q1 2016, this could mean growth of more than 50% year-over-year.

Nordic Investor

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